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Siddarth Businesses Ltd. Notes to Accounts, Siddarth Businesses Ltd. Company
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Notes to Accounts of Siddarth Businesses Ltd.

Mar 31, 2015

1. The company continues to carry on its operation and expects to continue the same and hence the accounts have been prepared "on going concern basis" despite substantial losses.

2. In the opinion of Board:

The Current Asset, Loans & Advances have value on realisation in the ordinary course of business of the Company at least equal to the amounts at which they are stated in the Balance Sheet.

3. Previous Year's figures have been regrouped, reclassified, wherever necessary.

4. There were no provision made for interest on short term loans & Advances.

5. Related Party Disclosures: (AS 18)

There was no related Party Transaction during the Year under the Review.


Mar 31, 2014

A. Related Party Disclosures

Key Management Personnel i) Mr. Sudharshan Jha ii) Mr. Ratan Singh

B. Earnings Per Share

Earnings per Share (EPS) are calculated by dividing the Net Profit or Loss for the period attributable to equity shareholders by the Weighted Average Number of equity shares outstanding during the period. For the purpose of calculating Diluted Earnings Per share, the Net Profit or Loss for the period attributable to equity shareholders is divided by the Weighted Average Number of shares outstanding during the period after adjusting for the effects of all dilutive potential equity shares.

C. Realizable Value of Current Assets

In the opinion of the management, the value on realization of current assets, loans & advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet and provisions for all known liabilities has been made.

D. Previous Year Information

Previous year figures have been redrawn to confirm to the current year''s classification as per the notification of Revised Schedule VI under the Companies Act, 1956 for the financial year commencing on or after 1st April 2013.

1. Notes to the Financial Statements

1.1 The company continues to carry on its operation and expects to continue the same and hence the accounts have been prepared on "going concern basis" despite substantial losses.

1.2 In the opinion of Board: The Current Asset, Loans & Advances have value on realisation in the ordinary course of business of the Company at least equal to the amounts at which they are stated in the Balance Sheet.

1.3 Previous Year''s figures have been regrouped, reclassified, wherever necessary.

1.4 There were no provision made for interest on short term loans & Advances.

1.5 Related Party Disclosures (AS-18) List of Related parties where control exists or with whom transactions have taken place in ordinary course of Businesses

Nature of Relationship Name of the Parties

1 Individuals owning directly or Swarnlata Jalan indirectly interest in voting power that given them control.

2 Key Management Personal and Relatives Rakesh Vashist Avnish Kumar Srivastava

3 Enterprises over which key Foremost Industries (2) and (3) are able to (I) Limited Daffodil exercise significant influence with Businesses Limited whom transactions have


Mar 31, 2013

1.1 The company continues to carry on its operation and expects to continue the same and hence the accounts have been prepared “on going concern basis” despite substantial losses.

1.2 In the opinion of Board: The Current Asset,Loans & Advances have value on realisation in the ordinary course of business of the Company at least equal to the amounts at which they are stated in the Balance Sheet.

1.3 Previous Year''s figures have been regrouped,reclassified,wherever necessary.

1.4 The accumulated losses exceed Issued Capital and Reserve & Surplus. The Company does not have any manufacturing unit. The management is of the opinion that section 3 of the Sick Industrial Companies (Special Provisions) Act, 1985 is not applicable to the Company.


Mar 31, 2012

1.1 The company continues to carry on its operation and expects to continue the same and hence the accounts have been prepared “on going concern basis” despite substantial losses.

1.2 In the opinion of Board: The Current Asset,Loans & Advances have value on realisation in the ordinary course of business of the Company at least equal to the amounts at which they are stated in the Balance Sheet.

1.3 Previous Year’s figures have been regrouped,reclassified,wherever necessary.

1.4 The accumulated losses exceed Issued Capital and Reserve & Surplus. The Company does not have any manufacturing unit. The management is of the opinion that section 3 of the Sick Industrial Companies (Special Provisions) Act, 1985 is not applicable to the Company.


Mar 31, 2011

1 No provision has been made :

i) For loss which may arise due to fall in the value of unquoted investments.

ii) For interest payable on unsecured loans for the year.

2 Related Party Disclosures: (AS - 18)

List of related parties where control exists or with whom transactions have taken place in ordinary course of business during the year are given hereunder.

Nature of Relationship Name of the Parties

1) Individuals owning directly Foremost Industries I Limited or Indirectly

2) Key Management Personal and Rakesh Vashist Relatives

3) Enterprises over which key Foremost Industries (I) Limited (2) and (3) are

 
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